Argentine stocks inch up

Argentine stocks inched higher in light trade on Friday on selective buying in Buenos Aires-listed shares of Brazilian state-run energy company Petrobras and leading bank Banco Patagonia. The benchmark MerVal stock index rose 0.4 percent to close at 2,006.44 points, cutting its losses for the month to 4.81 percent.
Trade volume was a slack $4.5 million, the lowest level since September 2007. "There was little activity because of the holiday in the United States. Shares that moved belonged to companies that don't trade in New York," said Leopoldo Olivari, a trader at Bacque brokerage. Banco Patagonia climbed 4 percent to 2.08 pesos while Petrobras climbed 0.86 percent to 105.5 pesos. Of active issues, 21 rose, 21 fell and 14 were unchanged.